New Delhi, Aug. 20 -- India Inc delivered a stronger-than-expected earnings performance in the June quarter of FY27. But the recovery had a clear divide: large and mid-sized companies pulled ahead, while smaller firms struggled to keep pace.

Nifty 50 profits grew nearly 18% year-on-year (y-o-y), roughly twice the Street's 9% estimate, marking a sharp improvement in headline earnings momentum.

Large and mid-sized companies gained from the global commodity upcycle, strong credit growth, exports, a weaker rupee, pricing power, operating leverage, and low-cost inventories. A favourable base also amplified the gains. Volume growth accelerated too, suggesting the recovery was not purely price-led.

Yet experts note that the quality of increme...